Arrow Electronics (NYSE:ARW) had its price objective boosted by Citigroup from $72.00 to $73.00 in a research report sent to investors on Friday. They currently have a neutral rating on the technology company’s stock.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Arrow Electronics from a hold rating to a buy rating and set a $86.00 target price for the company in a research report on Tuesday, July 17th. Wells Fargo & Co started coverage on Arrow Electronics in a research note on Tuesday, July 17th. They set an outperform rating and a $90.00 price target for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $86.00.
Arrow Electronics stock opened at $74.98 on Friday. Arrow Electronics has a 52 week low of $64.04 and a 52 week high of $87.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.15. The stock has a market cap of $6.54 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, November 1st. The technology company reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.02. Arrow Electronics had a return on equity of 15.12% and a net margin of 1.84%. The business had revenue of $7.49 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Arrow Electronics will post 8.82 earnings per share for the current fiscal year.
In other Arrow Electronics news, SVP Gretchen Zech sold 4,500 shares of Arrow Electronics stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $77.00, for a total transaction of $346,500.00. Following the completion of the sale, the senior vice president now owns 21,814 shares of the company’s stock, valued at $1,679,678. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vincent P. Melvin sold 2,000 shares of Arrow Electronics stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $78.10, for a total value of $156,200.00. Following the sale, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $1,278,575.10. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Virginia Retirement Systems ET AL lifted its stake in shares of Arrow Electronics by 38.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 43,200 shares of the technology company’s stock valued at $3,185,000 after acquiring an additional 12,100 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Arrow Electronics by 1.2% in the 3rd quarter. Wells Fargo & Company MN now owns 410,512 shares of the technology company’s stock valued at $30,264,000 after acquiring an additional 4,809 shares during the last quarter. Tdam USA Inc. lifted its stake in shares of Arrow Electronics by 6.2% in the 3rd quarter. Tdam USA Inc. now owns 23,021 shares of the technology company’s stock valued at $1,751,000 after acquiring an additional 1,350 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Arrow Electronics by 28.1% in the 3rd quarter. Private Advisor Group LLC now owns 4,289 shares of the technology company’s stock valued at $316,000 after acquiring an additional 941 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Arrow Electronics by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 220,259 shares of the technology company’s stock valued at $16,237,000 after acquiring an additional 2,112 shares during the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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